Zacks Investment Research downgraded shares of Fabrinet (NYSE:FN) from a buy rating to a hold rating in a research note published on Tuesday.

According to Zacks, “Fabrinet provides precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers of complex products, such as optical communication components, modules and sub-systems, industrial lasers and sensors. The Company offers a broad range of advanced optical capabilities across the entire manufacturing process, including process engineering, design for manufacturability, supply chain management, manufacturing, final assembly and test. Fabrinet manufactures, assembles, and tests products for customers at its main manufacturing facilities in Bangkok, Thailand. The Company designs and manufactures its own bulk optical materials and components at its facilities in Fuzhou, the People’s Republic of China, and New Jersey, USA. “

Other equities analysts have also recently issued research reports about the company. Piper Jaffray Companies reissued an overweight rating and set a $53.00 target price (up previously from $50.00) on shares of Fabrinet in a report on Friday, October 7th. Needham & Company LLC reissued a buy rating and set a $56.00 target price (up previously from $54.00) on shares of Fabrinet in a report on Monday, October 31st. B. Riley reissued a buy rating and set a $52.75 target price on shares of Fabrinet in a report on Wednesday, November 9th. Finally, Stifel Nicolaus increased their target price on Fabrinet from $48.00 to $50.00 and gave the company a buy rating in a report on Tuesday, November 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $48.82.

Fabrinet (NYSE:FN) traded up 1.93% during trading on Tuesday, reaching $35.95. The company had a trading volume of 305,415 shares. The company’s 50-day moving average is $40.15 and its 200 day moving average is $40.29. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 16.03 and a beta of 1.58. Fabrinet has a 52 week low of $21.29 and a 52 week high of $46.50.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.09. The company had revenue of $332.04 million for the quarter, compared to the consensus estimate of $309.44 million. Fabrinet had a return on equity of 14.16% and a net margin of 7.60%. Fabrinet’s revenue for the quarter was up 53.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 earnings per share. Equities analysts anticipate that Fabrinet will post $3.19 EPS for the current year.

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In related news, CEO David T. Mitchell sold 75,000 shares of the stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $37.41, for a total value of $2,805,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David T. Mitchell sold 74,828 shares of the stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $40.56, for a total value of $3,035,023.68. The disclosure for this sale can be found here. 4.30% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the stock. Quantbot Technologies LP bought a new stake in Fabrinet during the third quarter valued at approximately $104,000. Creative Planning boosted its stake in Fabrinet by 49.5% in the third quarter. Creative Planning now owns 2,810 shares of the company’s stock valued at $125,000 after buying an additional 930 shares during the period. Thompson Davis & CO. Inc. acquired a new stake in Fabrinet during the third quarter valued at about $145,000. Advisors Preferred LLC boosted its stake in Fabrinet by 1,034.4% in the third quarter. Advisors Preferred LLC now owns 3,789 shares of the company’s stock valued at $169,000 after buying an additional 3,455 shares during the period. Finally, PineBridge Investments L.P. boosted its stake in Fabrinet by 4.1% in the second quarter. PineBridge Investments L.P. now owns 3,886 shares of the company’s stock valued at $144,000 after buying an additional 154 shares during the period. 89.55% of the stock is owned by hedge funds and other institutional investors.

About Fabrinet

Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.

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